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Nifty

Nifty opened on a positive note and witnessed consolidation in initial hours. However buying momentum in second half lead index higher to close near the day's high. Nifty closed at 23264 with a gain of 733 points. On the daily chart the index has formed a small Bearish candle with lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 23350 level it would witness buying which would lead the index towards 23400-23500 levels. Important Supports for the day is around 23100 However if index sustains below 23100 then it may witness profit booking which would take the index towards 23050-23000 levels.

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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785